Credit and Debt

SMITHFIELD — A new revolving line of credit could funnel new money, and potential new investment, to Smithfield Foods' primary facilities and headquarters in Smithfield. Smithfield Foods officials recently announced it had entered into a $1.025 billion credit line agreement with Rabobank Nederland. As part of the new agreement, Smithfield Foods could have its credit line increased by $300 million. Rabobank is a Dutch multinational banking and financial services company headquartered in Utrecht, The Netherlands that operates a number of U.S. divisions across the Northeast and Midwest. The financial firm is a global leader in food and agricultural banking. The agreement between...

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SMITHFIELD — A new revolving line of credit could funnel new money, and potential new investment, to Smithfield Foods' primary facilities and headquarters in Smithfield.Smithfield Foods officials recently announced it had entered into a $1.025 billion...

A new revolving line of credit could funnel new money, and potential new investment, to Smithfield Foods' primary facilities and headquarters in Smithfield.
Smithfield Foods officials recently announced it had entered into a $1.025 billion credit line...

An abandoned apartment complex that's been a headache for the Ivy Farms neighborhood for more than a decade will likely be demolished soon, and may be rebuilt.
The city has issued a notice to demolish the Dresden Drive complex, formerly named Vista...

Newport News-based BayPort Credit Union is continuing to grow with mergers, more members and new services, the board chairman told shareholders Wednesday night.
"We continue to expand," Board Chairwoman Suzanne M. Beckstoffer said at the 87th...

Net income for Tribune Publishing, the owner of the Daily Press, declined 54 percent in the fourth quarter, primarily because of lower advertising revenue and debt service associated with its spinoff, the company said Wednesday.
The company...

HAMPTON — City officials here plan to borrow as much as $120 million this spring in a move that would take advantage of low interest rates to refinance some of the city's old debt. Doing so could save the city as much as $5 million in the coming fiscal...

Costco says it struck a deal for Citi to be the exclusive issuer of its co-branded credit cards, with Visa replacing American Express as the card network.
The retailer operates a number of locations across Hampton Roads, including a wholesale warehouse...

RICHMOND – The Virginia General Assembly is chugging toward a weekend close to this 2015 regular session.A number of marque issues – ethics reform, day care regulatory reform and new campus sexual assault reporting rules – remain unresolved due to...

On Tuesday, Anthem released revised figures regarding the late January data breach; it lowered the national numbers of those likely affected to 78.8 million from an initial 80 million, BUT increased the numbers in Virginia from 3 million to 3.77 million....

About one in five Virginia legislators list having at least $50,000 in personal debtbesides a mortgage, an analysis of financial disclosure forms by The Associated Press has found.
But state's ethics laws don't currently require lawmakers to offer much...

In the wake of the cyber attack that compromised the personal information of Anthem members as far back as 2004, the insurance giant is offering free credit monitoring services for 24 months through AllClear ID to anyone potentially affected.
Those could...

Newport News police are asking the public to help them identify two men believed to have installed a credit card skimmer at a bank drive-through.
The skimmer was found at the SunTrust bank at 11817 Canon Blvd. at 12:40 p.m. Feb. 13, according to a news...

With nearly 50 million citizens age 65 and older living in the United States and Canada, seniors represent one of the fastest growing population segments, but also a demographic commonly targeted for crime. As the senior population continues to increase —...

The Virginia General Assembly churned through hundreds of bills Monday, dealing with new day care rules, ethics reforms and drone regulations as a key legislative deadline approached.It was the first of a two-day vote marathon, and the Senate in...

A 51-year-old Virginia Beach woman was sentenced in federal court Monday to two years in prison on mail fraud charges.
Paula G. Akers, also faces three years of supervised release in connection to charges she pleaded guilty to on Sept. 24, 2014,...

Tucked away in one of Hampton's most historic neighborhoods lies the former Captain Charles E. Hewins property on Chesapeake Avenue.
Surrounded by well-manicured lawns, and historic charm, the estate has been a mainstay in the neighborhood for more...

It took less than five minutes for a House of Delegates committee to kill a bill to shut down a kind of high interest rate loan that keeps piling on debt even when borrowers make their basic monthly payments.
The sponsor, Del. David Yancey, R-Newport...

MATHEWS – Although it is very early on in the budget process, Mathews County Public Schools could be looking at significant savings next year by cutting its debt service costs nearly in half.
The Mathews School Board reviewed its first draft of the...

This year, local accountants and tax preparation offices are bracing for a busier tax season now that Affordable Care Act reporting requirements are kicking in, and they say IRS budget cuts won't help.Tax preparers are already busy with early filers,...

That’s right — the U.S. Internal Revenue Service will begin enforcing new quality standards for small wind turbines acquired or placed in service after Jan. 26 in order to qualify for the 30 percent federal Investment Tax Credit.
“The new certification...